130 Total SME IPOs listed in 2025

6,045.32 Crs. Total funds raised in 2025

92 SME IPOs listed with Gain in 2025

38 SME IPOs listed with loss in 2025

130 Total SME IPOs listed in 2025

6,045.32 Crs. Total funds raised in 2025

92 SME IPOs listed with Gain in 2025

38 SME IPOs listed with loss in 2025

130 Total SME IPOs listed in 2025

6,045.32 Crs. Total funds raised in 2025

92 SME IPOs listed with Gain in 2025

38 SME IPOs listed with loss in 2025

130 Total SME IPOs listed in 2025

6045.32 Crs. Total funds raised in 2,025.00

92 SME IPOs listed with Gain in 2025

38 SME IPOs listed with loss in 2025

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Summary

PE Ratio^*
Highest	48.41
Median	19.18
Lowest	4.78

IPO Size (Cr.)
Highest	189.50
Median	31.08
Lowest	2.03

*IPOs with Extreme PE (50+) are excluded from the above calculations.
Above summary is for reference only as the same is based on the limited data set.

SME Merchant Banker Performance Tracker FY24

SME IPO Performance of Merchant Bankers in India on NSE Emerge and BSE SME for IPO 2024. List of merchant banks with number of SME IPO assisted, Total Fundraise, Average PE Ratio, IPO listed in Gain/loss and Current IPO Performance of the BRLM. Latest SME IPO Performance of Merchant banking company for IPO 2024. IPO Lead managers help business owners in the IPO Listing Process, Pre IPO Funding and IPO valuation for a Successful IPO Listing. Merchant Banker services guide the company in the IPO process and help in DRHP filing, RHP and Final Prospectus.

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Merchant Banker	No of IPOs so far	Total funds raised (Cr.)	Avg PE Ratio	IPO Listed in Gain/Loss	CMP vs Offer Price (Gain/Loss)	CMP vs Listing Price (Gain/Loss)
Beeline Capital Advisors Private Limited	22	803.48	21.12	22 (100%) 0 (0%)	15 (68%) 7 (32%)	11 (50%) 11 (50%)
Hem Securities Limited	21	680.46	15.01	20 (95%) 1 (5%)	16 (76%) 5 (24%)	13 (62%) 8 (38%)
Shreni Shares Limited	13	260.67	20.37	13 (100%) 0 (0%)	7 (54%) 6 (46%)	7 (54%) 6 (46%)
Fedex Securities Private Limited	11	291.97	24.86	8 (73%) 3 (27%)	7 (64%) 4 (36%)	7 (64%) 4 (36%)
Gretex Corporate Services Limited	11	327.86	15.24	9 (82%) 2 (18%)	9 (82%) 2 (18%)	9 (82%) 2 (18%)
First Overseas Capital Limited	10	417.61	20.43	5 (50%) 5 (50%)	2 (20%) 8 (80%)	2 (20%) 8 (80%)
Share India Capital Services Private Limited	9	289.18	11.20	6 (67%) 3 (33%)	7 (78%) 2 (22%)	6 (67%) 3 (33%)
GYR Capital Advisors Private Limited	9	261.49	11.64	9 (100%) 0 (0%)	8 (89%) 1 (11%)	6 (67%) 3 (33%)
Narnolia Financial Services Limited	8	304.92	22.47	8 (100%) 0 (0%)	5 (63%) 3 (38%)	3 (38%) 5 (63%)
Interactive Financial Services Limited	7	173.86	21.57	5 (71%) 2 (29%)	3 (43%) 4 (57%)	4 (57%) 3 (43%)
Corporate Capital Ventures Private Limited	6	303.60	15.31	6 (100%) 0 (0%)	5 (83%) 1 (17%)	2 (33%) 4 (67%)
Swaraj Shares and Securities Private Limited	6	119.49	18.29	5 (83%) 1 (17%)	2 (33%) 4 (67%)	1 (17%) 5 (83%)
Aryaman Financial Services Limited	5	146.03	27.17	5 (100%) 0 (0%)	3 (60%) 2 (40%)	3 (60%) 2 (40%)
Finshore Management Services Limited	5	76.59	19.34	5 (100%) 0 (0%)	5 (100%) 0 (0%)	3 (60%) 2 (40%)
Indorient Financial Services Limited	5	150.04	18.58	5 (100%) 0 (0%)	3 (60%) 2 (40%)	2 (40%) 3 (60%)
Unistone Capital Private Limited	5	169.27	33.78	5 (100%) 0 (0%)	4 (80%) 1 (20%)	4 (80%) 1 (20%)
Swastika Investmart Limited	4	69.35	17.43	3 (75%) 1 (25%)	1 (25%) 3 (75%)	1 (25%) 3 (75%)
Holani Consultants Private Limited	4	89.57	17.59	4 (100%) 0 (0%)	4 (100%) 0 (0%)	2 (50%) 2 (50%)
Expert Global Consultants Private Limited	4	104.06	15.89	3 (75%) 1 (25%)	3 (75%) 1 (25%)	2 (50%) 2 (50%)
Horizon Management Private Limited	4	198.58	21.64	1 (25%) 3 (75%)	3 (75%) 1 (25%)	3 (75%) 1 (25%)
Khandwala Securities Limited	4	113.02	15.53	4 (100%) 0 (0%)	3 (75%) 1 (25%)	2 (50%) 2 (50%)
Sarthi Capital Advisors Private Limited	3	190.28	17.76	2 (67%) 1 (33%)	1 (33%) 2 (67%)	1 (33%) 2 (67%)
Khambatta Securities Limited	3	46.28	10.53	3 (100%) 0 (0%)	1 (33%) 2 (67%)	1 (33%) 2 (67%)
Affinity Global Capital Market Private Limited	3	100.39	14.19	2 (67%) 1 (33%)	1 (33%) 2 (67%)	1 (33%) 2 (67%)
Inventure Merchant Banker Services Private Limited	2	19.74	32.80	0 (0%) 2 (100%)	0 (0%) 2 (100%)	0 (0%) 2 (100%)
Pantomath Capital Advisors Private Limited	2	36.17	20.61	2 (100%) 0 (0%)	2 (100%) 0 (0%)	2 (100%) 0 (0%)
Mark Corporate Advisors Private Limited	2	107.85	28.88	1 (50%) 1 (50%)	1 (50%) 1 (50%)	1 (50%) 1 (50%)
Fast Track Finsec Private Limited	2	21.48	20.10	2 (100%) 0 (0%)	1 (50%) 1 (50%)	0 (0%) 2 (100%)
Isk Advisors Private Limited	2	51.92	18.51	2 (100%) 0 (0%)	2 (100%) 0 (0%)	1 (50%) 1 (50%)
Turnaround Corporate Advisors Private Limited	1	15.00	34.72	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Arihant Capital Markets Limited	1	50.00	42.11	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Vivro Financial Services Private Limited	1	42.72	8.88	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Sun Capital Advisory Services (P) Limited	1	12.48	10.23	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Oneview Corporate Advisors Private Limited	1	19.64	18.34	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Srujan Alpha Capital Advisors Llp	1	15.62	30.59	1 (100%) 0 (0%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)
Sundae Capital Advisors	1	69.54	N/A	1 (100%) 0 (0%)	1 (100%) 0 (0%)	1 (100%) 0 (0%)
Nirbhay Capital Services Private Limited	1	38.40	17.60	0 (0%) 1 (100%)	0 (0%) 1 (100%)	0 (0%) 1 (100%)

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Summary

PE Ratio^*
Highest	48.41
Median	19.18
Lowest	4.78

IPO Size (Cr.)
Highest	189.50
Median	31.08
Lowest	2.03

*IPOs with Extreme PE (50+) are excluded from the above calculations.
Above summary is for reference only as the same is based on the limited data set.

Explore More...

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Upcoming SME IPOs in India

The below mentioned are the forthcoming SME IPOs for which DRHPs have been filed recently and are in process of approval by the BSE SME or NSE Emerge exchange.